Smart Live Markets - Spread Bet on MT4

pineappleman said:
It's because traditionally SB companies have been cowboys who use bad data/spreads to win. This meant they like to do this on their terms, ie: their own custom easy-to-manipulate platforms. Things are changing in the industry, thankfully. I also think introducing MT4 into SB was difficult for a variety of programming reasons. These two factors have probably turned companies off of the idea in the past. SLM have done very very well by doing what they did.

Also, your suggestion of a premium SB function where you pay commission for ECN access to markets wrapped up in a spreadbet is a great idea. I hope more companies will do this. ProSpreads have kinda done this on both their futures and spot FX offering. But you need a larger starting account so it's not for newbies.

Yes there is surely a gap in the market for an ECN spreadbet option, commission based, and for newbies/smaller accounts. SLM - why not be pioneers again...?! :)
Click to expand...


Hello
Thank you for your views.
Can I ask please what benfit do you think you will have from having ECN spread betting on MT4, other than considerably wider spreads and significantly fewer markets?
Thanks
Paul
SLM
 
Mata Nui said:
It might not be the EA. I have given up running EAs with SLM (I even had a rented VPS). Everything was working fine then most of the EAs just stopped trading or just took 1 valid trade out of 4 or 5. I always apply a template for the EA to a chart so i can visually see setups. On the live i noticed hardly any of the trades i saw on the template actually got traded. On Demo the results were different again.

I think SLM have changed the data feed and basically the data is crap or incmplete. Most EAs need pretty good tick data to run (think about backtesting modelling quality).
Click to expand...

Hello

Some EAs that were written for FX accounts with normal symbol like EURUSD will not work on our spread betting MT4 as our symbols have SB at the end, ie EURUSDSB.

Most well written EAs do not have an issue with this.

As far as our data feed goes I am not sure what your issue is. We have not changed it and it comes from an amalgamation of the top global FX market makers.

A good feed should be stable and not jump all over the place as this can cause false signals for some EAs.

Regards
SLM
 
>Can I ask please what benfit do you think you will have from having ECN spread betting on MT4, other than considerably wider spreads and significantly fewer markets?

SLM,

I have not been trading seriously for very long so I probably have a lot to learn. Please forgive me if I am using the jargon incorrectly or my concept of a market maker is wrong.

It seems to me (with limited experience in forex) that the tide is turning on Market Makers. Clients want a broker to do as their name suggests – i.e. allow the client to buy and sell foreign currencies at the same rate and with the same execution as the banks.

To make money the broker can charge a commission.

The concept that I think sticks in people’s throats with market makers is the fact that there could be a conflict of interest between the brokers providing a good service and the broker making money. Market makers at times take the other side of the trade instead of always hedging the clients trade in the market.

When the market maker is taking the other side of the trade, it is a completely unfair relationship because the same broker is feeding their counterparty with the price!

As for wider spreads – you do have good spreads but I am afraid they don’t match most of the ECN brokers.
As for fewer markets – I agree ECN’s have fewer markets but the original post #1864 is proposing an “ECN like” feed (or perhaps it would be better to say STP), meaning the broker does not get involved in the trade and simply passes on the price (and adds its commission).
 
Smart Live Markets said:
Hello

Some EAs that were written for FX accounts with normal symbol like EURUSD will not work on our spread betting MT4 as our symbols have SB at the end, ie EURUSDSB.

Most well written EAs do not have an issue with this.

As far as our data feed goes I am not sure what your issue is. We have not changed it and it comes from an amalgamation of the top global FX market makers.

A good feed should be stable and not jump all over the place as this can cause false signals for some EAs.

Regards
SLM
Click to expand...

The reverse is true SLM - clients want an unfiltered connection to liquidity. Filtering and smoothing makes EA's trade less. What we dont want are spikes and gaps that have been artificially created by the broker (i.e not seem on any other broker).
 
magicdogsbrain said:
The reverse is true SLM - clients want an unfiltered connection to liquidity. Filtering and smoothing makes EA's trade less. What we dont want are spikes and gaps that have been artificially created by the broker (i.e not seem on any other broker).
Click to expand...

Don't think you're right there, magic. A price feed that flits up and down will make some EAs totally useless because of false triggers.
 
SLM not too good over last days. Quite a few re-quotes.

What's going on guys?

Still, at least it's your money whilst the £300 cashback deal is on.
 
Whilst I haven't used an ECN broker I have used a number of spread betting companies, including IG, Finspreads, ETX, and PaddyPower, and I have found SLM better than all of them.
 
andycon said:
Whilst I haven't used an ECN broker I have used a number of spread betting companies, including IG, Finspreads, ETX, and PaddyPower, and I have found SLM better than all of them.
Click to expand...

Having used IG for a number of years, I have rarely had a requote. But my stops were frequently slipped and execution sometimes delayed.

SLM is the opposite, no stops slipped, loads of re-quotes in a fast market. Also the occasional hang on MT4.

Amazing how these problems surface with a live account and not demo, which is why you should always test a live broker with a small amount of money or cash back guarantee.
 
SimonK said:
Having used IG for a number of years, I have rarely had a requote. But my stops were frequently slipped and execution sometimes delayed.

SLM is the opposite, no stops slipped, loads of re-quotes in a fast market. Also the occasional hang on MT4.

Amazing how these problems surface with a live account and not demo, which is why you should always test a live broker with a small amount of money or cash back guarantee.
Click to expand...

IG and Finspreads would also regularly take their platform off line and switch to telephone dealing open, particularly near news, market opens or any other volatile times. I will happily trade not having that for a re-quote.
 
Smart Live Markets said:
Hello
Thank you for your views.
Can I ask please what benfit do you think you will have from having ECN spread betting on MT4, other than considerably wider spreads and significantly fewer markets?
Thanks
Paul
SLM
Click to expand...

Magicdogsbrain said it all pretty much.

Longevity is key. People who spreadbet usually have a vision that one day they'll grow their account to a size where they'll trade the real underlying Market with a true broker, like FX spot or futures. All your markets are great but in the real world of trading you cannot trade MSFT at 20p per point or GBPUSD at 10p per pip. Therefore spreadbetting is a nice entry into the world of trading until a person gets enough money and experience to do it in the real markets.

Therefore sacrificing all those markets is a price we should be willing to pay for a real trading experience replicating ECN. I'd rather be exposed to the "true" world of markets than a bookie market notorious for it's tricks. The true underlying doesn't make you suffer this.

No conflict of interest true direct access to the underlying markets with the naturally low spreads, with just a fair commission charged by the bookie, all wrapped up as a spreadbet for legal tax reasons ... would be a treat. Prospreads springs to mind. But MT4 would be the icing on the cake.
 
Would love to be trading with prospreads, but the platform is a fairly complicated affair and their charts are unstable, though apparently this is remedied by using their data feed in Esignal.
Just gone live with SLM as it doesnt get much simpler than MT4, combine that with the luktom visual order editor and managing trades is a breeze.
I think that unless SLM prove themselves to be untrustworthy, i'll be sticking with them until the competition catches up and brings tighter spreads and MT4, was with ETX before, who were great apart from the spreads not being that tight and having to use 3rd party charting.
 
Smart Live Markets said:
Hello
Thank you for your views.
Can I ask please what benfit do you think you will have from having ECN spread betting on MT4, other than considerably wider spreads and significantly fewer markets?
Thanks
Paul
SLM
Click to expand...

Is that a trick question?

Are you saying market makers are better than ECN a/cs?
 
Whatever !

Don't understand why there is an ECN debate on this thread ?

If your on this thread your either trading with SLM or not

SLM is a Market Maker like it or not and you can see my posts in this thread on my view of SLM. I believe as a Market Maker your not going to get better than SLM.

They set there business up as an MT4 Market Maker so why do you think they will change to ECN or STP broker ?

If you want MT4 on ECN or STP there is already brokers out there

:spam:

lol

Back to the thread I'm going LIVE Monday 16th and you can follow my progress with an LIVE SLM account. Come read my blog and follow me on twitter, see links below
 
Re: Whatever !

JDTRADER said:
Don't understand why there is an ECN debate on this thread ?

If your on this thread your either trading with SLM or not

SLM is a Market Maker like it or not and you can see my posts in this thread on my view of SLM. I believe as a Market Maker your not going to get better than SLM.

They set there business up as an MT4 Market Maker so why do you think they will change to ECN or STP broker ?

If you want MT4 on ECN or STP there is already brokers out there

:spam:

lol

Back to the thread I'm going LIVE Monday 16th and you can follow my progress with an LIVE SLM account. Come read my blog and follow me on twitter, see links below
Click to expand...

Chill out JD! It's about to get a lot more stressful. ;)
 
Re: Whatever !

Tenapenny said:
Chill out JD! It's about to get a lot more stressful. ;)
Click to expand...

2007-576P-still-in-control.jpg
 
Re: Whatever !

JDTRADER said:
Don't understand why there is an ECN debate on this thread ?

If your on this thread your either trading with SLM or not

SLM is a Market Maker like it or not and you can see my posts in this thread on my view of SLM. I believe as a Market Maker your not going to get better than SLM.

They set there business up as an MT4 Market Maker so why do you think they will change to ECN or STP broker ?

If you want MT4 on ECN or STP there is already brokers out there

:spam:

lol

Back to the thread I'm going LIVE Monday 16th and you can follow my progress with an LIVE SLM account. Come read my blog and follow me on twitter, see links below
Click to expand...


With respect JD - spread betting with MT4 was out of the question before SLM. IF you dont ask you dont get.

Error 6 for FMT/TMT yet again today.
 
JD are you getting paid whilst on gardening leave? do you have additional funds to keep you going day to day?

it will make the world of difference to your manual trading if you are/have.
 
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